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(Transportation-News.com, February 14, 2019 )
Stratview Research announces the addition of a new market research report on Global Automotive Passive Safety System Market by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium & Heavy Duty Commercial Vehicle), by Application Type (Airbag, Seat Belt, Steering Wheel, Electronic Control Unit, and Other Passive Safety Systems), by End-Use Type (OEM and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017 – 2022.
The Global Automotive Passive Safety System Market: Highlights
Stratview Research foresees a sustainable growth of CAGR 3.7% in the global automotive passive safety system market over the next five years (2017 – 2022), which offers an opportunity to the automotive industry players to align themselves with the market growth.
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There are several factors bolstering the growth of passive safety system market in the global automotive industry. The author of the report cited rising consumers’ preferences for high safety features in the vehicles, introduction of more stringent safety standards by the governments of many countries, increasing penetration of curtain and knee airbags, especially in the developing economies, organic growth of automotive production, and advancement in technology as some of the major factors driving the demand for passive safety systems in the global automotive industry during the forecast period.
As per the study, passenger car is expected to remain the largest vehicle type in the global automotive passenger safety system market over the next five years. The vehicle type is also projected to witness the fastest growth during the same period, owing to increasing penetration of passive safety systems, such as airbags and seat belts, and increasing production of vehicles in the Asia-Pacific region, mainly in Japan, China, and India.
In terms of application type, airbag is forecasted to remain the largest product type in the global automotive passive safety system market over the next five years, driven by increasing penetration of curtain and knee airbags in the developing economies, such as China, introduction of more stringent safety norms, and an organic growth in the automotive production.
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Source: EmailWire.Com 
Source: EmailWire.com
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